Income Tax Department revised Tax Law and Change some Section and match another. The IT Section 80C changed the prevailing Section 88 with an increase of or less the same investment mix available in Section 88. The brand-new section 80C has become effective w.e.f. 1st April, 2006. Even the section 80CCC on pension scheme contributions was merged with the above-mentioned 80C.However, this new section has allowed a major change in the method of providing the tax benefit.

Section 80C of the TAX Act allows certain investments and costs to be tax-exempt. One must plan investments well and spread it out over the various instruments given under this section to avail maximum taxes advantage. Unlike Section 88, there are no sub-limits and is regardless of how much you earn and under which tax bracket you fall.

  • Sustainable creation of extreme cash an everyday habit
  • Holding on area as per pre-defined length and breadth
  • You point how your savings will be invested
  • Save money by eliminating debt
  • Which of the following are Self Regulatory Organisations

The following are Qualifying Investments. 1. Saving Schemes NSC, PPF etc.: The full total limit under this section is Rs 1 lakh. Included under this heading are many small savings schemes like NSC, PPF, and other pension programs. 2. Children Education Fee: Besides these investments, the payments towards the principal amount of your home loan are also eligible for money deduction. Day Education expenditure of children is increasing by the. Under this section, there is a provision which makes payments towards the training fees for children qualified to receive an income deduction. 3. Provident Fund (PF) & Voluntary Provident Fund (VPF): PF is automatically deducted from your salary. Both you and your employer to donate to it.

4. Repeat the same questions for the next problem. 5. What was the account balance at the final end of the time period specified for every account? 12 months or the annual rate and show the students the way the amount changes Change the. Manipulate the factors to give the students a basic idea of how compound interest works.

Display Slides 14-19. Stress the importance of investing money as time passes and how the longer the word the higher the rewards. Sort out good examples using the calculator. Discuss interest that compounds more than once per year. Point out that the more interest is compounded the higher the return often. Supply the revised formula. Work through a few examples. Demonstrate the effect of compounding periods over long-term investments or loans using the calculator. Display Slide 20. Have the training students work through both problems and determine which is the better choice.

Average rental produces in central London are a humble 2.83 %, and if you only have around £200,000 to purchase a buy-to-let apartment, you might do better in “outer perfect” areas, such as Fulham and the City. 15. Vive la France! The French property market is within the doldrums and, with the pound so strong and the euro so weakened, there won’t be a much better time to buy that dilapidated farmhouse in the Dordogne for a track.

Do it up, turn it into a stylish vacation home, with all mod downsides and pool, and wait for the ideal time to sell. You could double your money in five years – and have some slap-up French meals on the way. “There’s nothing much better than lying with a pool and watching the pool rise in value,” says David Rogers of Rocksure Investments.